Vale boosted by high levels of production at CQ mine
THE fortunes of Brazillian resources group Vale have been lifted by some top work delivered by its Central Queensland coal mine, helping to insulate the South American from grim news arising from south-west Africa.
In an unusual twist, it was not their operation in Queensland that was beset by bad weather and infrastructure woes, but its peer in the Mozambiquan town of Moatize.
Carborough Downs - Vale's underground mine producing coal for steel-making coal near Moranbah - broke first quarter records, mining 50% more than the final months of 2012.
It amounted to a 70% increase of production when compared to the first months of last year, a time when the region was left battered by bad weather.
The good work by Carborough's 690 workers meant the impact of a 35% fall of production quarter-on-quarter from Mozambique could be softened.
Vale also owns a stake in the Isaac Plains mine, near Moranbah, as part of a joint venture with Japanese industrial goliath Sumitomo along with several mines in New South Wales under the "Integra" banner.